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Semler Scientific Increases Bitcoin Holdings to 2321 BTC
In a recent announcement, Semler Scientific has made a significant move by increasing its Bitcoin holdings to 2321 BTC. This substantial purchase was made for approximately $23 million, resulting in an average cost of just over $98,000 per Bitcoin.
According to the company’s statement, this latest acquisition utilized proceeds from stock sales and operational cash flow. In the span of several months, Semler Scientific has issued more than $120 million of stock to fund various activities, including these Bitcoin purchases. As a result, the company’s Bitcoin yield—a metric measuring the ratio of Bitcoin holdings to outstanding shares—has increased significantly.
The Bitcoin yield has risen from an initial 72.6% to an impressive 99.3%, showcasing the company’s commitment to this digital asset. This growth can be attributed to Semler Scientific’s robust approach to Bitcoin acquisition, which has helped transform the business from a “zombie” status into a thriving entity.
The company’s chairman, Eric Semler, took to social media to comment on their Bitcoin strategy, stating that it was instrumental in the firm’s resurgence. He credited this aggressive buying plan for helping Semler Scientific escape insolvency and create opportunities for growth.
Semler Scientific is not alone in its pursuit of Bitcoin as a valuable investment opportunity. MicroStrategy has been a pioneer in this regard, while other notable companies like Hoth Therapeutics and Genius Group have also opted to invest in the cryptocurrency.
As a result, corporate treasuries now hold more than $54 billion in BTC, with Semler Scientific ranking 13th among public companies in terms of its Bitcoin treasury size.
Source: cryptonewsland.com
